Dec, 31, 2023 — CYPRUS FEDERAL CREDIT UNION is a federal credit union headquartered in WEST JORDAN, UT with 22 branch locations and about $1.74 billion in total assets. Opened 89 years ago in 1935, CYPRUS FEDERAL CREDIT UNION has about 134,957 members and employs 457 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CYPRUS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3876 W Center view Way WEST JORDAN, UT 84084 |
| Phone: | (801) 260-7600 |
| Fax: | (801) 260-7788 |
| Website: | https://www.cypruscu.com |
| Branches: | 22 branch locations |
| Members: | 134,957 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24688 |
|---|---|
| Membership Type: | Multiple common bond - Primarily primary and fabricated metals |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,743,497,895 |
| CEO/Manager: | Todd Adamson |
| Chairperson: | Richard Stapler |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 77,580,609 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 444,314 |
| Real Estate Loans | 608,912,011 |
| Unsecured Loans | 96,808,909 |
| Other Loans | 843,809,951 |
| TOTAL LOANS | 1,549,595,822 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -15,208,948 |
| Land And Building | 56,944,992 |
| Other Fixed Assets | 5,711,167 |
| NCUSIF Deposit | 13,766,192 |
| All Other Assets | 662,512 |
| TOTAL ASSETS | 1,743,497,895 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 81,250,000 |
| Accounts Payable & Other Liabilities | 25,685,202 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 288,365,439 |
| Regular shares | 349,450,507 |
| All Other Shares & Deposits | 809,793,613 |
| TOTAL SHARES & DEPOSITS | 1,447,609,560 |
| TOTAL LIABILITIES | 1,554,544,762 |
| Regular Reserve | 0 |
| Other Reserves | -5,904,404 |
| Undivided Earnings | 194,857,537 |
| TOTAL EQUITY | 188,953,133 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,743,497,895 |
| INCOME & EXPENSE | |
| Loan Income | 80,971,836 |
| Investment Income | 2,632,088 |
| Other Income | 7,389,923 |
| Total Employee Compensation & Benefits | 33,292,956 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 30,604,600 |
| Non-operating Income & (Expense) | 3,580,980 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,706,186 |
| Cost of Funds | 28,886,637 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 11,817,591 |
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